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Author Topic: [ANN] MiningBand - new hashrate market [Looking for investors & miners]  (Read 31 times)
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March 21, 2018, 07:28:14 PM

MiningBand hashrate market
Hey. It痴 new hashrate market talking. You probably know what hashrate market is, if not here is a short description of what it is. If yes you can actually skip few lines. Shortly:
Miner - rig owner, the one who leases his rig hashrate to the service.
Buyer - investor, the one who rents a few rigs at the same time. He is actually paying for the rental. Miners receive this payments, excluding some service fee. Rigs rental generally purses the goal of mining some unpopular but profitable cryptocurrency. A good buyer is a buyer who mined more coins then he paid for the rigs rent Smiley Obviously, this creates competition among buyers.
Hashrate market sells hashrate to the buyers or in other words leases your hashrate to the buyers. This way your mining rig really will be used to mine lots of different cryptos, and the buyer choose the most profitable cryptos among others. Almost always it痴 more profitable to miners, comparing with mining on pools. Because buyers are always looking for a new profitable coins, and willing to pay miners more than pool.
The above described principle of work has already been implemented by the orange-smiling guy. We are also working in this field, and with the aim of becoming the best on the market, we decided to introduce something new in this area. Hope you値l like it.

Discord: (Official contact - Sia Yoshi)


  • The main currency is ETH, as the most promising at the moment. In addition, the Ethereum network will soon switch to PoA / PoS, and therefore the ETH mining will be stopped. One of our goals is to invite those miners who would like to mine ETH further, arguing that after the fork the miners will still receive ETH rewards for their mining capacity.
  • Buyers order fee - 2%.
  • Miners fee - 0%.
  • Instant deposits - only 8 confirmations in the ETH network.
  • Flexible withdrawal system. From the our side, we would like not to choke small miners, therefore users will get an option to specify withdrawal transaction fee, and also create a schedule of payments like once a week, once a month, on reached 0.1 ETH, etc. The service fee for the withdrawals is 0%.
  • Our own miner, which in fact is a shell over other popular miners. Miner is focused on mining with jumps between algorithms, and at the moment the service policy does not allow to disable this feature. From the our side we promise that the time to start the internal-miner (EWBF, Ethminer, CCMiner, Claymore, etc) is also calculated when choosing the task for the miner. It jump takes lots of time and it doesnt pay off, then the server will simply pick up a less profitable task, but without jump downtime. According to policy, we adhere to the view that gpu should be idle for a day due to the algorithm change not more than 14 minutes (1400 minutes, 14 minutes idle time - 1% of lost profit).

About investment
We would like to clarify one thing. You probably already noticed that in the title of the topic there is a phrase that the project is looking for investors. And, most likely, will be be surprised when you値l see the amount we want to raise. Yes, the MiningBand project looking for a new buyers and miners, but this is not ICO in the classic meaning. The team already has great programmers, security experts, DevOps, blockchain-developers and marketers. We started to develop the product at our own expense without raising million investments, because each of us has practical experience in starting or supporting business, and everyone agrees that raising million investment is not exactly needed here.

  • Service core, detailed: development of a secure internal network, MiningBand Miner, stratum proxies, website, geth-wrapper, and unique feature that nobody of our competitors doesnt have - a dynamic network of stratum servers that automatically creates new stratums in overloaded regions by all over the world - Frankfurt, London, Amsterdam for miners from Europe, New York, San Francisco, Toronto for miners from United States, Bangalore and Singapore for our friends from Asia, and Moscow with St. Petersburg for guys with bears.
  • < We are here > Software development for Fund stage. Reliable software development.
  • Fund stage is the stage at which we will try to raise up to 200 ETH, that will be used pay for the servers, web security services, and also for several hired guys. MiningBand service will be launched even if this amount will not be raised. After the release, Fund Stage investors will get a 300% reward of their initial investment. More about this on our website, in the FAQ section "To Fund stage investors".
    For this stage we値l also prepare a demo version of the product. You will have an opportunity to test service for free by using our test mining hardware (1xRX580 on ethash orders and 1xRX580 on equihash orders) on those pools you値l choose. After miner connects to the specified pool, this order will be mined around 5 minutes, after which miner will be switched to the next order. This wont make anyone massive income, however, talking back about investing, we hope that it will be easier for you to make a decision by looking at the pool graphs to understand that our system is almost ready to start.

    Additionally, if you are a blogger or have a youtube channel, you could also get rewards, as it described in article "Rewards for inviting investors during Fund stage". It also includes some rewards for announce translations & posting it on the local forums or here at bitcointalk local branches.

  • Closed Alpha-test, or Miners Fund stage. At this stage we give miners an option to try our service. It would be great for us to invite around 500-10000 gpus mining on our service. We consider number of 10000 as highest possible here.

    By the way, this stage is named Miners Fund because we charge 5%-50% fee of total gpu income from each miner. This is called personal donation. In miners dashboard there will be an option to change percentage of donations. After the release, the donated amount will be paid in 200% reward of your initial total donation. More about this on our website, in the FAQ section, the article "To Miners Fund participants".

    If you dont like that fee but still want to try the service, you can join us at the next stage - an open beta test. There will be no fees at all.

    It is also important to note that during the alpha test market will be closed for the buyers. We will direct your rigs to few of most profitable coins from list. For ETH miners, as we targeting them, nothing will change, except an influence of personal donation.

    Developers note: by the way, you can break something if you can. In order to make MiningBand fault-tolerant and get maximum efficiency of mining for everyone, the entire third and fourth stage we値l act like Cave Johnson, means throw different components into the wall, and see what happens. That means from time to time some parts of the service might not work (balances, rewards for mining, withdrawal, mining, stratums, website) because something get broken - accidentally, or in scientific interest. Let's hope this will happen by scientific interest more often Smiley However, if you値l break something - you値l receive an ETH bonus.

  • Open Beta Test. Here we open the market and API, and invite buyers to touch what we have done. By the way, we have a great experience in miners distribution by the region. In order to reduce amount of stale-shares, if your pool has several stratum servers in different regions, in your order you will be able to specify different stratums for miners from each region. So that means miners from Asia will not be connected to the United States servers, but work with pool that closer. Less ping = more accepted shares = more moneyz.

    Good news - all fees from the buyers during the beta test is not charged. 0% buyers orders fee, 0% miners fee.

    In the meantime, MiningBand team will prepare promotional materials, record guides to youtube, publish articles, monitor all systems.

  • Release. Starting from this moment, MiningBand begins to invite miners from around the world using the funds raised earlier, as well as paying investors rewards. Our goal is to raise 50,000 gpus. According to our calculator this number will allow to pay all obligations to investors.
    Order fees on the market will be set between 1.5% - 2% (but absolutely not higher than 2%), the miners fees will always be 0%. Half of the service income goes to cover the obligations to investors, more details about the coverage of obligations could be found on our site in the FAQ section "About investment to MiningBand".

As steps 3, 4, 5 and 6 approach, we will announce opening / closing dates.

About MiningBand Miner

The source code of the miner is open, no scams or viruses. You can find about how it works below here.
However, please remember that miner will not work before the alpha test starts.
  • At the alpha test stage, internal-miners are not yet configurable, we are using default bat-files now. In the future such an opportunity will be added.
  • On the first miner start your rig will be calibrated. Dont worry, this does not affect your internal rig settings such as OC, the calibration purpose is to get rig hashrate using each of available algorithms. On adding new algorithms to the market, this new algorithm will be calibrated too. If some internal components of your rig changes (GPUs added / removed, CPU replaced), MiningBand Miner will automatically reset all settings and rerun calibration. Task distribution server will use already known data about capacities of your rig if you値l decide to return to previous components setting. Calibration takes approximately 5 minutes for each internal miner.
  • In order not to disturb you with each new update of the project there is an auto-update built into the miner thats automatically restarts miner.
  • At the moment, CPU-mining is not yet supported but will be added at one of the future miner releases. By default, it will be disabled.
  • Currently WatchDog (program that restarts rig if the mining stopped) is not supported, we are working on our own implementation, this is one of our priority tasks.
  • Soon will be implemented superfeature about option to watch the console of any rig through the panel of miners. Might be useful if you think that there are some problems with internal miners or resulting hashrate. Could be used on any device, without visiting rig personally.
  • The second superfeature right now is still in the discussion (we need your opinions), but perhaps we will add some tools for remote rig configuration. This feature is interesting and promising, but if your rig is running on windows, then it makes no sense because TeamViewer does well already.

About maximizing profitability
Our team goal is to achieve maximum income of rigs with minimal effort. Some local forums call this 杜oneyz button, tbh it's not far from truth Smiley We spread our stratum-network all over the world for this reason. Also, could be found above, we described an option for reducing the stale-shares by using regional stratum-server pools. And once more, miners fee 0% and withdrawal fee 0%. Shortly, we are working on a service and really really hope that you値l enjoy it Smiley

About anonymity
Due to increased number of criminal violence against developers of crypto-services (with a point to steal their cryptocurrency), the MiningBand team decided to temporarily be anonymous. We really hope that in the future this will change.

Discord: (Official contact - Sia Yoshi)
Feel free to join us!
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March 22, 2018, 06:58:53 PM

Got a talk with a few massive miners today, they said it might be not a good idea to download lots of internal miners like EWBF/Ethminer/CCMiner/etc as its not very easy to configure them for max profit.
Instead this should be an empty list where user may add bat-file of a tested, trusted miner, with replacing some values to variables like tcp+stratum://{IP}:{PORT}.
While talking further we understood that in fact it is just using old miners that users already using + some overhead to jump between algorithms. Kinda... simple.

What do you think about this? It is worth to develop MiningBand Miner in this way or maybe it still should be a pack of 10-15 internal miners but with option to mine all possible algos?

PS. During this weekend we will open an option to test our market! It will be possible to create an order, that will be mined for about 5 minutes for free, then next order will be processed. 1 user account limited to 1 order for 12 hours. Algos: Equihash & Ethash. Kinda demo-version of the market.
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